Koon Yew Yin

JAKS’ price chart is encouraging

On last Friday, the share price of JAKS shot up 12 sen with an unusually big volume of 6.4 million shares changed hands. After I have seen from i3investor that a few people thought I was responsible or I bought so many shares to push up the share price, I am obliged to write this article.

I did not buy any share and If I did, I would have to report and the company would have to make the necessary announcement because I am a substantial shareholder.

There must be a lot more people buying aggressively. As a result, the price chart is showing “a cup and handle formation” which means that the price is most likely to go up higher to make a new high.

I am obliged to tell you that my wife and I have a total of more than 150 million shares and I am not encouraging you to buy or sell. If you do, you are doing it at your own risk.